Posts Tagged ‘banks’
Watchman: There’s A Wave of Corporate Bankruptcies Coming–That Will bring Lawlessness to America
HNewsWire: A wave of bankruptcies and corporate defaults can be imminent as US corporations are being battered by rising loan rates. Experts caution that as high interest rates have an adverse effect on both consumers and businesses, it may increase the likelihood of a recession. As of the end of August, 459 businesses had declared bankruptcy, according to S&P Global. The entire number of bankruptcy filings reported between 2021 and 2023 is already exceeded by that figure. August saw the largest monthly total of corporate debt defaults since 2009. S&P Worldwide According to Collin Martin, a fixed income strategist at Charles Schwab and director, borrowing prices for certain companies increased by two or almost three times in 2023 compared to earlier years, which had a negative impact on company balance sheets. The ICE BofA US High Yield Index shows that…
Read MoreWatchman: In the New World Order, Only Four Banks Will Dominate, With Nearly 10,000 U.S. Banks Vanishing Since 1985. The Power Is Now Concentrated in the Hands of These Mega Banks, Which Control 39+ Percent of All Bank Assets
HNewsWire: By Pam Martens and Russ Martens, According to Federal Deposit Insurance Corporation (FDIC) data, there were 14,417 federally-insured banking institutions in the U.S. in 1985. As of December 31, 2023, the FDIC reports there are only 4,587 remaining. The vast majority of the 9,830 banks that have disappeared since 1985 did not fail – they were merged with other banks. Today, just four banks control $9.3 trillion in consolidated bank assets or 39 percent of all bank assets. Those four banks are JPMorgan Chase with $3.395 trillion in consolidated assets; Bank of America with $2.540 trillion; Wells Fargo with $1.7 trillion; and Citigroup’s Citibank with $1.685 trillion. (All asset figures are as of December 31, 2023 and come from the Federal Reserve’s statistical release of the largest banks.) The political clout of these mega banks is such that one of them,…
Read MoreWatchman: The Federal Reserve Has Abruptly Terminated the Banking Bailout Program That Has Been Sustaining Institutions. Expect Banks To Start Collapsing in the Near Future
By SRH, The federal authorities seem to be on the verge of closing down the regional National Banks in order to usher in digital currency. Last Month U.S. Treasurer [grannie] Yellen assured the Senate that all is well and the financial system is “stable.” With minimal attention from the mainstream, the Federal Reserve terminated an emergency bailout program yesterday that was designed to assist banks and financial institutions during the aftermath of the Silicon Valley Bank (SVB) collapse a year ago. Worried about the potential widespread contagion and bank runs following SVB’s downfall, the Federal Reserve established the Bank Term Funding Program (BTFP), offering more than $2 trillion in funds for banks to borrow in order to manage withdrawals and losses stemming from loans, bonds, derivatives, and other assets that had depreciated due to interest rate hikes causing significant unrealized…
Read MoreJerome Powell Openly Admits That Banks Will Collapse This Year
By SRH, Earlier this week, in a Senate Banking Committee, the esteemed Fed Chair Jerome Powell reluctantly acknowledged that the United States is bound to confront a series of unavoidable banking collapses this year. However, he audaciously asserts that this forthcoming surge of calamities shall be within the realm of “manageable.” Another round of deceit from the Fed, as expected. The senator’s worries about the banking sector’s soundness and its exposure to commercial real estate were acknowledged by Powell. He verified that worried banks are receiving updates from the Federal Reserve, which is keeping a careful eye on the situation. Although Powell refrained from naming names or providing exact figures, he did say that additional banks, especially smaller ones with a greater reliance on commercial real estate, are likely to fail this year. The transition to remote employment has resulted…
Read MoreWatchman Banks Are In Trouble: New York Community Bancorp Cut To ‘Junk’ By Moody’s 33% Of Deposits Uninsured,the Crash is Coming
By SRH, HNewsWire Reporting: Embattled regional bank New York Community Bancorp received another blow Tuesday evening when Moody’s Investors Service lowered its credit rating to junk status. Moody’s downgraded New York Community Bancorp due to “challenges” stemming from the lender’s unexpected loss in the commercial real estate market. The downgrade reduced the bank’s credit rating by two notches from its prior level, indicating a significant lack of faith in the bank’s capacity to repay its debt holders. “NYCB’s core historical commercial real estate lending and significant and unanticipated loss on its New York office and multifamily property could create potential confidence sensitivity,” according to the assessment released by Moody’s Investors Service. Following the downgrading, New York Community Bancorp shares fell 17% in after-hours trading on Tuesday evening. This loss comes on top of a 22% selloff in regular trading. Credit…
Read MoreWatchman Warns Banks Are In Trouble Regional Bank Stocks Are Crashing Again…
HNewsWire: by Tyler Durden Yesterday it was NYCB that grabbed the headlines and spoiled Powell’s day. As we detailed here (and here), the banking crisis never went away and it now appears the rest of the market realizes that too as Regional Bank shares are extending their losses significantly today… This morning saw the US CRE crisis go global as Aozora Bank faced the music on its balance sheet folly. NYCB is extending losses (well below SVB lows)… Western Alliance Bancorp is getting clubbed like a baby seal today… Shares of Zions Bancorp, Comerica and Webster Financial are also tumbling along with Citizens Financial, Regions Financial, SouthState, Prosperity Bancshares, Schwab, PacWest, and Huntington Bancshares… The market appears to be finally pricing in the end of the BTFP, and all the chaos that will ensue from that,…
Read MoreWatchman: Deep Dive into the Dark Side of Banking and Its Handmaiden, Central Banks, Its All Build On Thin Air
HNewsWire: By Pam Martens and Russ Martens, Last September, speaking at a conference sponsored by the nonprofit watchdog, Better Markets, to examine if “too big to fail” banks had materially changed in the fifteen years since the 2008 financial collapse, Anat Admati, Professor of Finance and Economics at Stanford Graduate School of Business, offered her assessment of the U.S. banking system: “Corruption has become the system.” Today, Admati’s celebrated 2013 book, The Bankers’ New Clothes: What’s Wrong with Banking and What to Do about It, co-authored with German economist Martin Hellwig, is being released in an expanded new edition. It is a must read for every American who is bold enough to remove their media tinted, rose-colored glasses and take a hard look at how the U.S. banking system got into the mess it’s in today. Although written by serious academics, the book…
Read MoreWatchman Warning: Federal Agency Study Contradicts Fed Chair: Finds Banking System Is Ripe for Another Crisis and Remains “Fragile and Uncertain”
HNewsWire: By Pam Martens and Russ Martens: Following the second, third and fourth largest bank failures in U.S. history in the spring of last year, Federal Reserve Chair Jerome Powell gave his semiannual monetary policy report to the House Financial Services Committee and the Senate Banking Committee in June. During both appearances, Powell stated the same thing: “The U.S. banking system is sound and resilient.” But according to a report last week from the federal agency whose mandate is to keep federal regulators apprised of the true condition of the U.S. banking system, it is actually ripe for another crisis and its condition is “fragile and uncertain.” The federal agency whose researchers are taking the latter position is the Office of Financial Research (OFR). The agency was created under the Dodd-Frank financial reform legislation of 2010 to prevent another 2008-style financial crisis by……...
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Watchman: America’s Banks Are Not Safe—Collapse Is On The Way–Run!
SRH: An unsecured loan to a bank constitutes your “deposit” with that bank. If the bank fails, you are essentially at the end of the line. Going to be an exceptionally challenging year. HNewsWire: By StevieRay Hansen A consumer spending expert has released a dismal forecast for the US economy in 2024. Harry Dent told Fox Business on Tuesday that “since 2009, this has been 100 percent artificial, unprecedented money printing and deficits: $27 trillion over 15 years, to be exact.” “This is completely manufactured, off the charts, which indicates that things are serious right now. In my opinion, 2024 will be the largest single collapse year of our lives.” “We need to send a message to central banks and get back down to normal,” he continued. “This should be a lesson we never revisit,” he said. I doubt that……...
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Watchman Warns Top Banks In Trouble: Fed Report: Largest 25 U.S. Banks Have Shed $700 Billion in Deposits Over Past Year
Watchman Reporting the Banking Industry’s Collapse Has Begun With Useless FDIC–Insured Big Tech Silvergate Bank Announced on Wednesday That It Was Liquidating Its Assets and Closing Down. Today, the Four Largest American Banks Lost $52 Billion in Valuation as the Dow Fell 540 Points–Tribulation Moving Forward–God Warned Us HNewsWire: By Pam Martens and Russ Martens: April 11, 2023 To read the headlines in the major business press, one would think that since the upheaval began in the U.S. banking system, the largest U.S. commercial banks have been the beneficiaries in terms of deposit inflows. For example, on March 13 the Financial Times ran this headline: “Large US banks inundated with new depositors as smaller lenders face turmoil.” The subhead was even more questionable, reading: “Failure of Silicon Valley Bank prompts flight to likes of JPMorgan and Citi.” (JPMorgan Chase has been……...
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